NewsEmpower to raise $3-million with convertible debentures
Ticker Symbol: C:EPT
Empower to raise $3-million with convertible debentures
Empower Technologies Corp (C:EPT)
Shares Issued 42,968,504
Last Close 10/21/2009 $0.25
Thursday October 22 2009 - News Release
Mr. Paul Leung reports
NEWS RELEASE-EMPOWER TECHNOLOGIES OFFERS $3 MILLION CONVERTIBLE DEBENTURES FOR ACQUISITION AND S&M INITIATIVE
Empower Technologies Corp. is proceeding with a non-brokered private placement of unsecured convertible debentures of up to $3-million, subject to regulatory approval. Proceeds of the offering will be used for the proposed acquisition of Pixon Imaging LLC, and for continued sales and marketing of Empower's products and general working capital.
The debentures will bear interest at the rate of 12% per annum payable semi-annually and are due December 31, 2011. The debentures will be convertible into common shares of Empower at a conversion price of $0.50 per share, subject to earlier automatic conversion under certain conditions.
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